Astera Labs (NASDAQ:ALAB) Shares Gap Down to $70.92

Astera Labs, Inc. (NASDAQ:ALAB) shares gapped down prior to trading on Friday . The stock had previously closed at $70.92, but opened at $69.08. Astera Labs shares last traded at $67.61, with a volume of 213,297 shares traded.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of analyst reports. Northland Securities initiated coverage on Astera Labs in a research report on Monday, March 25th. They issued an “outperform” rating and a $85.00 price target for the company. Needham & Company LLC assumed coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 target price for the company. Roth Mkm assumed coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 target price for the company. Jefferies Financial Group assumed coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $85.00 target price for the company. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $86.09.

Astera Labs Trading Down 9.1 %

Insider Buying and Selling at Astera Labs

In related news, Director Jack R. Lazar bought 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were bought at an average price of $36.00 per share, for a total transaction of $360,000.00. Following the completion of the purchase, the director now directly owns 165,000 shares of the company’s stock, valued at $5,940,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Astera Labs

An institutional investor recently bought a new position in Astera Labs stock. Allspring Global Investments Holdings LLC purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 251,596 shares of the company’s stock, valued at approximately $18,666,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of Astera Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.